Delivered record Q2 Contribution ex-TAC and programmatic revenue, highlighted by all-time record quarterly CTV revenue; raises full-year 2026 Contribution ex-TAC and programmatic revenue guidance for the third time this year
Advanced nexAI through Model Context Protocol ("MCP") and Agent-to-Agent ("A2A") interoperability, enabling deeper integration within customers' AI infrastructure and workflows
Accelerated enterprise adoption and platform-wide utilization, strengthening Nexxen's long-term end-to-end revenue growth opportunities
NEW YORK, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Nexxen International Ltd. (NASDAQ: NEXN) ("Nexxen" or the "Company"), the advertising technology platform powered by unique data and media, announced today its financial results for the three and six months ended June 30, 2026.
Q2 2026 Financial Highlights
-- Record Q2 Contribution ex-TAC of $97.8 million, up 11% year-over-year.
-- Record Q2 programmatic revenue of $95.2 million, up 12% year-over-year.
-- All-time record quarterly CTV revenue of $37.8 million, up 33%
year-over-year.
-- Programmatic revenue increased to 95% of total revenue, compared to 93%
in Q2 2025.
-- CTV revenue increased to 40% of programmatic revenue, compared to 33% in
Q2 2025.
-- Video revenue represented 70% of programmatic revenue, compared to 68% in
Q2 2025.
-- Adjusted EBITDA of $27.6 million, representing a 28% Adjusted EBITDA
margin on a Contribution ex-TAC basis (27% on a total revenue basis),
compared to $29.9 million and a 34% Adjusted EBITDA margin on a
Contribution ex-TAC basis (33% on a total revenue basis) in Q2 2025. The
year-over-year change in Adjusted EBITDA primarily reflects increased
investment across AI, data, infrastructure, go-to-market execution and
platform capabilities to support the Company's long-term growth
opportunities, as well as the impact of foreign currency exchange
fluctuations.
-- $132.0 million in cash and cash equivalents, no long-term debt and $50
million available under the Company's undrawn revolving credit facility
as of June 30, 2026. The Company's cash and cash equivalents increased
significantly quarter-over-quarter, reflecting strong operating
performance, as well as the collection of receivables in Q2 2026 that
were outstanding at the end of Q1 2026.
"We once again exceeded consensus expectations, delivering record Q2 Contribution ex-TAC and programmatic revenue, highlighted by all-time record quarterly CTV revenue which increased 33% year-over-year, supporting our decision to increase our full-year Contribution ex-TAC and programmatic revenue guidance for the third time this year," said Ofer Druker, Chief Executive Officer of Nexxen. "Enterprise engagement continues to accelerate, fueling greater platform utilization and reinforcing our confidence in our long-term growth strategy. As AI reshapes our industry, we believe differentiation will be driven not simply by AI capabilities, but by the proprietary data, exclusive media and open, interoperable technology within the platforms underlying them. Through continued innovation, we are positioning nexAI to integrate directly into our customers' AI infrastructure, enabling access to Nexxen's data, intelligence and activation capabilities across both our platform and other AI-powered ecosystems. Combined with continued traction for Nexxen TV Home Screen and disciplined execution across our enterprise, CTV, mobile in-app and data strategies, we believe our platform is increasingly well positioned to capture market share and deliver durable long-term value in the next generation of programmatic advertising."
Financial Guidance
-- Nexxen raises its full-year 2026 Contribution ex-TAC and programmatic
revenue guidance last provided June 16, 2026, while reaffirming its
full-year 2026 Adjusted EBITDA guidance:
-- Contribution ex-TAC in the range of $388 - $402 million
(previously $385 - $400 million), representing approximately 12%
year-over-year growth at the midpoint
-- Programmatic revenue in the range of $380 - $393 million
(previously $377 - $391 million), representing approximately 13%
year-over-year growth at the midpoint
-- Adjusted EBITDA in the range of $122 - $132 million (unchanged),
representing approximately 10% year-over-year growth and an
Adjusted EBITDA margin of 32% on a Contribution ex-TAC basis at
the midpoint
-- The Company's updated full-year 2026 Contribution ex-TAC and programmatic
revenue guidance reflects its Q2 outperformance, continued year-over-year
momentum across enterprise, CTV, mobile and data products to this point
in Q3 and increased visibility into the remainder of the year. Nexxen's
Adjusted EBITDA guidance was reaffirmed primarily to reflect the
Company's expectation to continue investing across its strategic growth
initiatives and platform capabilities in H2 2026.
-- The Company continues to expect H2 2026 growth to be supported by
accelerating enterprise customer engagement, increasing end-to-end
platform utilization, continued mobile in-app, CTV and data products
strength and growing commercial traction for Nexxen TV Home Screen.
-- Nexxen will continue investing in AI, data and infrastructure, alongside
performance-based CTV and mobile in-app capabilities, to support
long-term programmatic revenue growth and drive operating leverage
expansion.
-- The Company continues to evaluate strategic options for its remaining
non-programmatic business lines.
Q2 2026 Operational Highlights and Recent Developments
-- Advanced nexAI through MCP and A2A interoperability, which will enable
customers to integrate Nexxen's AI agents into their existing AI
ecosystems and workflows. This innovation is expected to position Nexxen
as an increasingly interoperable intelligence and execution layer,
enabling advertisers to seamlessly access the Company's proprietary data,
audience intelligence and campaign activation capabilities across both
Nexxen's platform and other AI-powered ecosystems while strengthening the
Company's long-term competitive position in the evolving agentic future
of programmatic advertising.
-- Enterprise engagement with Nexxen's new AI-native DSP user interface
("UI") and enhanced nexAI DSP assistant continued to accelerate, driving
meaningful performance and efficiency improvements, lowering barriers to
entry and supporting greater end-to-end platform utilization. nexAI
continues to evolve beyond an efficiency tool into an increasingly
important driver of customer adoption, platform utilization and long-term
revenue growth.
-- Increased adoption of Nexxen TV Home Screen across leading CTV OEMs,
platforms and agencies, with growing commercial traction reinforcing
Nexxen's long-term CTV revenue opportunity.
-- Expanded direct software development kit ("SDK") integrations with Unity
and other mobile in-app partners, supporting continued mobile revenue
growth while expanding Nexxen's in-app capabilities and long-term revenue
opportunity in one of programmatic advertising's most AI-resilient
channels.
-- Announced key leadership adjustments to strengthen Nexxen's commercial
organization, unify execution and position the Company to accelerate
growth across its core drivers. Chance Johnson, formerly the Company's
Chief Commercial Officer, has been promoted to President of Nexxen,
supporting the Company's next phase of go-to-market execution and revenue
growth. Mr. Johnson will focus on scaling the business, executing against
the Company's product and solutions roadmap and taking on a more visible
role with the analyst and investor communities. Kara Puccinelli, formerly
Nexxen's Chief Customer Officer, has assumed the role of Chief Commercial
Officer and will continue managing the Company's enterprise offering.
Kenneth Suh, formerly Nexxen's Chief Strategy Officer, has assumed the
role of Chief Business Officer to further position the Company to
capitalize on growth opportunities across its exchange business,
particularly within mobile in-app and CTV.
-- Initiated a strategic wind-down of RhythmInfluence, Nexxen's
non-programmatic influencer marketing business, further concentrating the
Company's focus on programmatic advertising, improving operational
efficiency and aligning its business mix with long-term strategic growth
priorities. The wind-down resulted in restructuring expenses during Q2
2026 but is not expected to have a material impact on Contribution ex-TAC
or Adjusted EBITDA in H2 2026.
-- Enhanced Nexxen's political advertising offerings through strategic
partnerships with L2 Data and ADvolution, further positioning the Company
to capture a greater share of political advertising spend during the 2026
U.S. midterm election cycle.
Share Repurchase Program and Capital Allocation Updates
-- The Company did not repurchase any shares during Q2 2026 as management
prioritized maintaining financial flexibility while evaluating
disciplined M&A opportunities and capital deployment across Nexxen's
strategic priorities, including continued investment in AI, data,
platform capabilities and go-to-market execution. The Company has
authorization to initiate a new share repurchase program of up to $40
million.
-- Since March 1, 2022, the Company has repurchased 30,928,265 shares, or
approximately 39.9% of shares outstanding, investing approximately $265.3
million.
-- Nexxen expects to invest an additional $15 million in V (formerly VIDAA)
during Q3 2026, bringing its total investment to $60 million,
representing approximately 6% equity ownership.
-- The Company is continuing to evaluate disciplined strategic opportunities
to expand its mobile in-app, CTV, data and AI capabilities to accelerate
programmatic revenue growth.
Financial Highlights for the Three and Six Months Ended June 30, 2026 ($ in millions, except per share amounts)
Three months ended June
30 Six months ended June 30
2026 2025 % 2026 2025 %
------- ------- ------- ------- ------- -------
IFRS
Highlights
Revenue 100.5 90.9 11% 187.4 169.3 11%
Programmatic
revenue 95.2 85.0 12% 177.1 156.8 13%
Operating
profit
(loss) 4.2 8.7 (52%) (0.7) 12.2 (106%)
Net income
(loss) margin
on a gross
profit basis 5% 13% (1%) 8%
Total
comprehensive
income
(loss) 4.2 11.3 (63%) (1.2) 13.6 (109%)
Diluted
earnings
(loss) per
share 0.06 0.14 (55%) (0.03) 0.16 (118%)
Non-IFRS
Highlights
Contribution
ex-TAC 97.8 87.8 11% 182.4 162.8 12%
Adjusted
EBITDA 27.6 29.9 (8%) 43.9 53.1 (17%)
Adjusted
EBITDA Margin
on a
Contribution
ex-TAC basis 28% 34% 24% 33%
Non-IFRS net
income 13.3 18.2 (27%) 16.8 28.8 (42%)
Non-IFRS
diluted
earnings per
share 0.23 0.29 (22%) 0.29 0.45 (36%)
Second Quarter 2026 Financial Results Webcast and Conference Call Details
-- When: August 12, 2026, at 9:00 AM ET
-- Webcast: A live and archived webcast can be accessed from the Events and
Presentations section of Nexxen's Investor Relations website at
https://investors.nexxen.com/
-- Participant Dial-In Numbers:
-- U.S. / Canada Toll-Free Dial-In Number: (888) 596-4144
-- U.K. Toll-Free Dial-In Number: +44 800 260 6470
-- International Dial-In Number: +1 (646) 968-2525
-- Conference ID: 3103910
About Nexxen
Nexxen is the advertising technology platform that delivers full-funnel performance powered by unique data and media. Comprised of a demand-side platform ("DSP") and supply-side platform ("SSP"), with the Nexxen Data Platform at its core, we meet the demands of today's converging media landscape with exclusive audience intelligence, automation and expertise.
Headquartered in Israel, Nexxen maintains offices throughout North America, Europe and Asia-Pacific and is traded on Nasdaq (NEXN). For more information, please visit nexxen.com.
For further information please contact:
Billy Eckert, Vice President of Investor Relations
ir@nexxen.com
Caroline Smith, Vice President of Communications
csmith@nexxen.com
Forward Looking Statements
This press release contains forward-looking statements, including forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are identified by words such as "anticipates, " "believes," "expects," "intends," "may," "can," "will," "estimates," and other similar expressions. However, these words are not the only way Nexxen identifies forward-looking statements. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding anticipated financial results for Q3 and full year 2026 and beyond; anticipated benefits of Nexxen's strategic transactions and commercial partnerships; anticipated features and benefits of Nexxen's products and service offerings, including anticipated benefits relating to nexAI, MCP and A2A interoperability and the Company's AI investment strategy; anticipated industry adoption of Nexxen's programmatic Smart TV home screen ad activation solution (Nexxen TV Home Screen); Nexxen's positioning for accelerated growth and continued future growth; Nexxen's medium- to long-term prospects; management's belief that Nexxen is well-positioned to benefit from future industry growth trends and Company-specific catalysts; the Company's plans with respect to its cash reserves as well as its future share repurchase programs and further investment in V (formerly VIDAA); the Company's plans to pursue strategic opportunities for its non-programmatic business lines and other targeted, smaller-scale strategic opportunities to accelerate programmatic revenue growth and expand capabilities; anticipated benefits from the renewed and expanded strategic partnership with V, as well as any other statements related to Nexxen's future financial results and operating performance. These statements are neither promises nor guarantees but involve known and unknown risks, uncertainties and other important factors that may cause Nexxen's actual results, performance or achievements to be materially different from its expectations expressed or implied by the forward-looking statements, including, but not limited to, the following: negative global economic conditions, including risks related to tariff impacts or policy shifts (including trade negotiations or enforcement actions) that could materially affect market sentiment, consumer behavior and advertising demand; global conflicts and war, including the conflict involving Israel and Iran and related regional and international tensions, including U.S. military involvement, and the war and hostilities between Israel and Hamas, Hezbollah and the Houthis in Yemen, and how those conditions may adversely impact Nexxen's business, customers and the markets in which Nexxen competes; changes in industry trends; and other negative developments in Nexxen's business or unfavorable legislative or regulatory developments. Nexxen cautions you not to place undue reliance on these forward-looking statements. For a more detailed discussion of these factors, and other factors that could cause actual results to vary materially, interested parties should review the risk factors listed in the Company's most recent Annual Report filed with the U.S. Securities and Exchange Commission (www.sec.gov) on Form 20-F. Any forward-looking statements made by Nexxen in this press release speak only as of the date of this press release, and Nexxen does not intend to update these forward-looking statements after the date of this press release, except as required by law.
Nexxen, and the Nexxen logo are trademarks of Nexxen International Ltd. in the United States and other countries. All other trademarks are the property of their respective owners. The use of the word "partner" or "partnership" in this press release does not mean a legal partner or legal partnership.
Use of Non-IFRS Financial Information
In addition to our IFRS results, we review certain non-IFRS financial measures to help us evaluate our business, measure our performance, identify trends affecting our business, establish budgets, measure the effectiveness of investments in technology and development and sales and marketing, and assess our operational efficiencies. These non-IFRS measures include Contribution ex-TAC, Adjusted EBITDA, Adjusted EBITDA Margin, Non-IFRS Net Income and Non-IFRS Earnings per Share, each of which is discussed below.
These non-IFRS financial measures are not intended to be considered in isolation from, as substitutes for, or as superior to the corresponding financial measures prepared in accordance with IFRS. You are encouraged to evaluate these adjustments and review the reconciliation of these non-IFRS financial measures to their most comparable IFRS measures and the reasons we consider them appropriate. It is important to note that the particular items we exclude from, or include in, our non-IFRS financial measures may differ from the items excluded from, or included in, similar non-IFRS financial measures used by other companies. See "Reconciliation of Revenue to Contribution ex-TAC," "Reconciliation of Total Comprehensive Income (Loss) to Adjusted EBITDA," and "Reconciliation of Net Income (Loss) to Non-IFRS Net Income," included as part of this press release.
-- Contribution ex-TAC: Contribution ex-TAC for Nexxen is defined as gross
profit plus depreciation and amortization attributable to cost of revenue
and cost of revenue (exclusive of depreciation and amortization) minus
Performance (non-programmatic) media costs ("traffic acquisition costs"
or "TAC"). Performance (non-programmatic) media costs represent the costs
of purchases of impressions from publishers on a cost-per-thousand
impression basis in our non-core, non-programmatic Performance
activities. Contribution ex-TAC is a supplemental measure of our
financial performance that is not required by or presented in accordance
with IFRS. Contribution ex-TAC should not be considered as an alternative
to gross profit as a measure of financial performance. Contribution
ex-TAC is a non-IFRS financial measure and should not be viewed in
isolation. We believe Contribution ex-TAC is a useful measure in
assessing the performance of Nexxen because it facilitates a consistent
comparison against our core business without considering the impact of
traffic acquisition costs related to revenue reported on a gross basis.
-- Adjusted EBITDA: We define Adjusted EBITDA for Nexxen as total
comprehensive income (loss) for the period adjusted for foreign currency
translation differences for foreign operations, tax expenses, financial
income, net, depreciation and amortization, stock-based compensation
expenses, restructuring and delisting related one-time costs. Adjusted
EBITDA is included in the press release because it is a key metric used
by management and our Board of Directors to assess our financial
performance. Adjusted EBITDA is frequently used by analysts, investors
and other interested parties to evaluate companies in our industry.
Management believes that Adjusted EBITDA is an appropriate measure of
operating performance because it eliminates the impact of expenses that
do not relate directly to the performance of the underlying business.
-- Adjusted EBITDA Margin: We define Adjusted EBITDA Margin as Adjusted
EBITDA as a percentage of Contribution ex-TAC.
-- Non-IFRS Net Income and Non-IFRS Earnings per Share: We define non-IFRS
earnings per share as non-IFRS net income divided by non-IFRS
weighted-average shares outstanding. Non-IFRS net income is equal to net
income (loss) excluding amortization of acquired intangibles,
restructuring, delisting related one-time costs and stock-based
compensation expenses, and also considers the tax effects of non-IFRS
adjustments. In periods in which we have non-IFRS net income, non-IFRS
weighted-average shares outstanding used to calculate non-IFRS earnings
per share include the impact of potentially dilutive shares. Potentially
dilutive shares consist of stock options, restricted stock awards,
restricted stock units and performance stock units, each computed using
the treasury stock method. We believe non-IFRS earnings per share is
useful to investors for evaluating our ongoing operational performance
and trends on a per share basis and also facilitates comparison of our
financial results on a per share basis with other companies, many of
which present a similar non-IFRS measure. However, a potential limitation
of our use of non-IFRS earnings per share is that other companies may
define non-IFRS earnings per share differently, which may make comparison
difficult. This measure may also exclude expenses that may have a
material impact on our reported financial results. Non-IFRS earnings per
share is a performance measure and should not be used as a measure of
liquidity. Because of these limitations, we also consider the comparable
IFRS measure of net income.
We do not provide a reconciliation of forward-looking non-IFRS financial metrics because reconciling information is not available without an unreasonable effort, such as attempting to make assumptions that cannot reasonably be made on a forward-looking basis to determine the corresponding IFRS metric.
Reconciliation of Total Comprehensive Income (Loss) to Adjusted EBITDA
Three months ended June
30 Six months ended June 30
----------------------- ------------------------
2026 2025 % 2026 2025 %
------ ------- ------ ------- ------- ------
($ in thousands)
Total
comprehensive
income (loss) 4,212 11,256 (63%) (1,245) 13,647 (109%)
Foreign
currency
translation
differences
for foreign
operation (572) (2,590) (430) (3,348)
Tax expenses 1,218 1,437 1,318 4,313
Financial
income, net (699) (1,399) (348) (2,459)
Depreciation
and
amortization 17,751 15,521 34,067 30,788
Stock-based
compensation
expenses 4,388 5,709 9,201 8,609
Restructuring 1,323 - 1,323 -
Delisting
related
one-time
costs - - - 1,520
Adjusted EBITDA 27,621 29,934 (8%) 43,886 53,070 (17%)
Reconciliation of Revenue to Contribution ex-TAC
Three months ended June Six months ended June
30 30
------------------------ -----------------------
2026 2025 % 2026 2025 %
-------- -------- ---- -------- -------- ---
($ in thousands)
Revenue 100,518 90,948 11% 187,360 169,278 11%
Cost of
revenue
(exclusive of
depreciation
and
amortization) (18,793) (12,057) (35,226) (23,256)
Depreciation
and
amortization
attributable
to cost of
revenue (14,638) (12,531) (27,932) (24,825)
Gross profit
(IFRS) 67,087 66,360 1% 124,202 121,197 2%
Depreciation
and
amortization
attributable
to cost of
revenue 14,638 12,531 27,932 24,825
Cost of
revenue
(exclusive of
depreciation
and
amortization) 18,793 12,057 35,226 23,256
Performance
media cost (2,693) (3,141) (4,997) (6,483)
Contribution
ex-TAC
(Non-IFRS) 97,825 87,807 11% 182,363 162,795 12%
Reconciliation of Net Income (Loss) to Non-IFRS Net Income
Three months ended June
30 Six months ended June 30
------------------------ ------------------------
2026 2025 % 2026 2025 %
------- ------- ------ ------- ------- ------
($ in thousands)
Net income (loss) 3,640 8,666 (58%) (1,675) 10,299 (116%)
Amortization of
acquired
intangibles 5,890 5,912 11,767 11,782
Restructuring 1,323 - 1,323 -
Delisting Costs - - - 1,520
Stock-based
compensation
expenses 4,388 5,709 9,201 8,609
Tax effect of
Non-IFRS
adjustments(1) (1,910) (2,083) (3,816) (3,367)
Non-IFRS net income 13,331 18,204 (27%) 16,800 28,843 (42%)
Weighted average
shares
outstanding--diluted
(in millions)(2) 58.3 62.0 58.0 63.8
Non-IFRS diluted
earnings per share
(in USD) 0.23 0.29 (22%) 0.29 0.45 (36%)
1. Non-IFRS net income includes the estimated tax impact from the expense
items reconciling between net income (loss) and non-IFRS net income
2. Non-IFRS earnings per share is computed using the same weighted-average
number of shares that are used to compute IFRS earnings per share
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL
POSITION
(Unaudited)
June 30 December 31
2026 2025
USD thousands
Assets
ASSETS:
Cash and cash equivalents 132,044 133,308
Trade receivables, net 224,032 196,101
Other receivables 5,531 6,116
Current tax assets 2,302 1,809
TOTAL CURRENT ASSETS 363,909 337,334
Fixed assets, net 28,491 18,033
Right-of-use assets 31,816 27,005
Intangible assets, net 308,623 318,376
Deferred tax assets 8,518 9,407
Investment in shares 45,000 45,000
Other long-term assets 977 918
TOTAL NON-CURRENT ASSETS 423,425 418,739
TOTAL ASSETS 787,334 756,073
Liabilities and shareholders' equity
LIABILITIES:
Current maturities of lease liabilities 14,856 13,287
Trade payables 230,336 207,020
Other payables 43,272 41,282
Current tax liabilities 636 441
TOTAL CURRENT LIABILITIES 289,100 262,030
Employee benefits 208 213
Long-term lease liabilities 21,878 18,644
Deferred tax liabilities 202 515
TOTAL NON-CURRENT LIABILITIES 22,288 19,372
TOTAL LIABILITIES 311,388 281,402
SHAREHOLDERS' EQUITY:
Share capital 328 324
Share premium 281,026 278,510
Other comprehensive income 778 348
Retained earnings 193,814 195,489
TOTAL SHAREHOLDERS' EQUITY 475,946 474,671
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 787,334 756,073
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OPERATION
AND OTHER COMPREHENSIVE INCOME (LOSS)
(Unaudited)
For the six months For the three months
ended June 30 ended June 30
-------------------- ----------------------
2026 2025 2026 2025
--------- --------- ---------- ----------
USD thousands USD thousands
-------------------- ----------------------
Revenues 187,360 169,278 100,518 90,948
Cost of revenues
(Exclusive of
depreciation and
amortization shown
separately below) 35,226 23,256 18,793 12,057
Research and development
expenses 29,762 27,729 14,711 14,965
Selling and marketing
expenses 69,007 60,161 34,731 31,295
General and administrative
expenses 20,003 15,191 10,373 8,406
Depreciation and
amortization 34,067 30,788 17,751 15,521
--------- --------- ---------- ----------
Total operating costs 152,839 133,869 77,566 70,187
--------- --------- ---------- ----------
Operating profit (loss) (705) 12,153 4,159 8,704
--------- --------- ---------- ----------
Financing income (1,731) (3,741) (1,007) (1,971)
Financing expenses 1,383 1,282 308 572
--------- --------- ---------- ----------
Financing income, net 348 2,459 699 1,399
--------- --------- ---------- ----------
Profit (loss) before taxes
on income (357) 14,612 4,858 10,103
Tax expenses 1,318 4,313 1,218 1,437
--------- --------- ---------- ----------
Profit (loss) for the
period (1,675) 10,299 3,640 8,666
========= ========= ========== ==========
Other comprehensive income
items:
Foreign currency
translation differences
for foreign operation 430 3,348 572 2,590
--------- --------- ---------- ----------
Total other comprehensive
income for the period 430 3,348 572 2,590
--------- --------- ---------- ----------
Total comprehensive income
(loss) for the period (1,245) 13,647 4,212 11,256
========= ========= ========== ==========
Earnings (loss) per share
Basic earnings (loss) per
share (in USD) (0.03) 0.17 0.06 0.14
Diluted earnings (loss)
per share (in USD) (0.03) 0.16 0.06 0.14
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES
IN EQUITY
(Unaudited)
Other
comprehensive
Share Share income Retained
capital premium (loss) earnings Total
USD thousands
Balance as of
January 1,
2026 324 278,510 348 195,489 474,671
Total
comprehensive
loss for the
period
Loss for the
period - - - (1,675) (1,675)
Other
comprehensive
income:
Foreign
currency
translation - - 430 - 430
Total
comprehensive
income (loss)
for the
period - - 430 (1,675) (1,245)
Transactions
with owners,
recognized
directly in
equity
Own shares
acquired (7) (7,146) - - (7,153)
Share based
compensation - 9,519 - - 9,519
Exercise of
share
options 11 143 - - 154
Balance as of
June 30,
2026 328 281,026 778 193,814 475,946
Balance as of
January 1,
2025 377 362,507 (2,476) 170,446 530,854
Total
comprehensive
income for the
period
Profit for the
period - - - 10,299 10,299
Other
comprehensive
income:
Foreign
currency
translation - - 3,348 - 3,348
Total
comprehensive
income for
the period - - 3,348 10,299 13,647
Transactions
with owners,
recognized
directly in
equity
Own shares
acquired (42) (71,932) - - (71,974)
Share based
compensation - 7,380 - - 7,380
Exercise of
share
options 5 377 - - 382
Balance as of
June 30,
2025 340 298,332 872 180,745 480,289
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH
FLOWS
(Unaudited)
Six months ended
June 30
2026 2025
-------- --------
USD thousands
CASH FLOWS FROM OPERATING ACTIVITIES:
Profit (loss) for the period (1,675) 10,299
Adjustments for:
Depreciation and amortization 34,067 30,788
Net financing income (470) (2,558)
Loss on leases modification 8 38
Share-based compensation and restricted shares 9,201 8,609
Tax expenses 1,318 4,313
Change in trade and other receivables (27,336) 33,071
Change in trade and other payables 25,817 (39,457)
Change in employee benefits (15) (20)
Income taxes received 767 137
Income taxes paid (1,802) (9,999)
Interest received 1,305 2,525
Interest paid (954) (1,115)
Net cash provided by operating activities 40,231 36,631
CASH FLOWS FROM INVESTING ACTIVITIES
Change in pledged deposits, net 87 (152)
Payments on finance lease receivable 551 604
Acquisition of fixed assets (18,578) (5,042)
Acquisition and capitalization of intangible
assets (10,557) (8,152)
Repayment of debt investment 63 42
Net cash used in investing activities (28,434) (12,700)
CASH FLOWS FROM FINANCING ACTIVITIES
Acquisition of own shares (7,301) (72,562)
Proceeds from exercise of share options 154 382
Leases repayment (7,816) (8,247)
Net cash used in financing activities (14,963) (80,427)
-------- --------
Net decrease in cash and cash equivalents (3,166) (56,496)
CASH AND CASH EQUIVALENTS AS OF THE BEGINNING OF
PERIOD 133,308 187,068
EFFECT OF EXCHANGE RATE FLUCTUATIONS ON CASH AND CASH
EQUIVALENTS 1,902 887
CASH AND CASH EQUIVALENTS AS OF THE END OF PERIOD 132,044 131,459